Modera Wealth Management LLC Reduces Position in GE Vernova Inc. (NYSE:GEV)

Modera Wealth Management LLC lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,784 shares of the company’s stock after selling 78 shares during the period. Modera Wealth Management LLC’s holdings in GE Vernova were worth $916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. lifted its position in GE Vernova by 12.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,333 shares of the company’s stock valued at $438,000 after purchasing an additional 151 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new stake in GE Vernova during the 4th quarter valued at $515,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of GE Vernova during the 4th quarter valued at $86,000. Smartleaf Asset Management LLC boosted its stake in shares of GE Vernova by 47.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,035 shares of the company’s stock worth $672,000 after buying an additional 658 shares during the last quarter. Finally, Onefund LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $238,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GEV shares. Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research note on Friday, January 24th. Robert W. Baird began coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Trading Down 6.0 %

Shares of GE Vernova stock opened at $315.19 on Tuesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a 50 day moving average of $363.25 and a 200 day moving average of $307.25. The firm has a market cap of $86.96 billion and a PE ratio of 56.69.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.